Let's take a look at something that the entire Forex community is talking about: Forex trading robots. It does seem like every single Forex forum or chat room that you enter, it's the number one topic being discussed. There are probably thousands of threads dedicated to trading robots on famous forums like Forex factory.
It's no secret that many people treat these robots as if they were the ultimate holy grail. I can certainly understand why many people would be feeling this way. I'm sure every body's dream to make a lot of money trading Forex, without having to do any of the work. Who wouldn't just love that?
There are several problems I have with this. The biggest one would have to be that the Forex market (or any market for that matter) can not, and will never be programmable. That's just not how it works. Every single day, the market has something new to offer, and you have to be able to roll with the punches. It just can't be set on autopilot.
For example think about how much news comes out every single day. Any kind of unexpected news can send the market in a whirlwind. Do you honestly expect a Forex trading robot to be able to both comprehend these news events and be able to trade them profitably?
Most humans have a difficult time comprehending how to handle these news events along with all the nuances of the Forex market. Leaving this kind of work to a Forex trading robot is HUGE leap of faith.
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